Embedding company purpose requires businesses to think about every process their organisation operates—and accept that there will be trade-offs.
Last month the debate about the role of “purpose” in business and governance took off. Efforts to integrate the concept into boardroom thinking have never been exactly trivial, but April saw a campaign launched to write into law a specific duty for company directors to pursue a company’s purpose.
That campaign, the Better Business Act, included politicians, the UK’s Institute of Directors and high-profile business brands such as John Lewis and Innocent Drinks. Abruptly, the discussion about purpose changed in tone. For some voluntary adoptions is no longer enough; it has to be mandatory.
Among the many debates that circulate the
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda